Bond yields surge above 5% as Wall Street fears more Fed rate hikes
Stocks fall, with the Nasdaq and S&P 500 retreating from record territory as bond yields suddenly jump.
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# Bond Yields Surge Above 5%, Triggering Stock Market Pullback Bond yields climbed above 5% as market participants braced for additional Federal Reserve rate hikes, causing the Nasdaq and S&P 500 to retreat from their recent record highs. The yield surge reflects investor concerns that inflation remains sticky, potentially forcing the Fed to maintain a more hawkish monetary policy stance longer than previously anticipated.
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